Sanctions against Iran to go back into effect

Andrew Cummings
November 5, 2018

Iran greeted the re-imposition of USA sanctions on Monday with air defence drills and a statement from President Hassan Rouhani that the nation faces a "war situation", raising Mideast tensions as America's maximalist approach to the Islamic Republic takes hold.

"America wanted to cut to zero Iran's oil sales.but we will continue to sell our break sanctions", Rohani said.

The reimposition of sanctions lifted under a 2015 nuclear deal adds 300 new designations in Iran's oil, shipping, insurance and banking sectors, to try to sharply reduce the country's petroleum revenues, a mainstay of its economy.

China says it regrets the USA decision to re-impose sanctions on Iran but will continue to uphold the nuclear deal Beijing agreed to as a permanent member of the United Nations Security Council. "Iran is a much different country since I terminated that deal".

"Today, Iran is able to sell its oil and it will sell", Rouhani vowed Monday as the sanctions kicked in.

Pompeo maintained that despite the waivers, "these sanctions have already had an enormous impact".

Iranian state media said millions turned out for rallies in most cities and towns around the country, swearing allegiance to the clerical establishment and its hardline authority, Supreme Leader Ayatollah Ali Khamenei.

Threatening more directly, Salami claimed that "battle with the Islamic Republic will take the war beyond the region" and "if we want, in a short time we can establish dominance over the the Middle East".

The Donald Trump administration's decision to issue waivers also marked a significant reduction from the Barack Obama administration, which issued such exemptions in 2012 to 20 countries over 3 years during last sanctions. In a single move, the United States is dealing a critical blow to Iran's entrenchment in Syria, Lebanon, Gaza, Iraq and Yemen.

In a Face the Nation interview that aired Sunday, Pompeo told John Dickerson emphasized that "they will be the toughest sanctions ever placed against the Islamic republic of Iran".

Mr Trump pulled the United States out of the nuclear pact after branding it the worst deal in American history.

On Saturday night, Israeli Prime Minister Benjamin Netanyahu in a statement thanked U.S. President Donald Trump for reimposing the sanctions.

The United States is putting oil and financial sanctions against Iran back in effect on Monday.

"We already live in the condition of sanctions. We have to stand to win." the president said.

U.S. West Texas Intermediate (WTI) crude futures were down 27 cents, or 0.4 percent, at $62.87 a barrel.

Pompeo and Treasury Secretary Steven Mnuchin were expected to provide more details on the sanctions at a briefing Monday. Trump administration officials have said eight entities are being given short-term waivers to allow them time to completely wind down their existing Iranian oil imports. They are the strongest sanctions we've ever imposed.

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